How much more does Amex charge to retailers compared with other cards

N.I.M

Hi all

Just got an Amex charge card and am looking at buying a car, I have the cash but if I can get the Amex points then I'm going to do it that way.

My concern is that the difference in the fee charged by amex versus say Visa or Mastercard will be substantial and would be passed onto me and that I would then effectively be out of pocket to try and get the points. Plus if its miniscule and I know it then I'll be able to knock back the argument.

Thanks in advance.

N.I.M

zagfles

N.I.M wrote: »

Hi all

Just got an Amex charge card and am looking at buying a car, I have the cash but if I can get the Amex points then I'm going to do it that way.

My concern is that the difference in the fee charged by amex versus say Visa or Mastercard will be substantial and would be passed onto me and that I would then effectively be out of pocket to try and get the points. Plus if its miniscule and I know it then I'll be able to knock back the argument.

Thanks in advance.

N.I.M

It depends on the retailer - for instance Tesco would get a much better deal than a small restaurant. So impossible to say, but Amex do generally charge a lot more than VISA/Mastercard.

Just ask the dealer what they'd charge for Amex (if they take it - IME most don't).

N.I.M

zagfles wrote: »

It depends on the retailer - for instance Tesco would get a much better deal than a small restaurant. So impossible to say, but Amex do generally charge a lot more than VISA/Mastercard.

Just ask the dealer what they'd charge for Amex (if they take it - IME most don't).

I suspected that tesco would get a better rate, but there must be like a rate-card or something amex use based on business size etc?

I'm actively trying to avoid asking that until I find what sort of rate-card amex use.

mcduff16

I think it is about 2.5% for Visa & Mastercard and 3.5% for American Express but don't quote me on that.

Big retailers like Tesco, Debenhams, etc won't charge you for using any of those cards, but you'll find that it most cases it will be a simply case of if a retailer takes American Express or not rather than you getting charged extra

N.I.M

mcduff16 wrote: »

I think it is about 2.5% for Visa & Mastercard and 3.5% for American Express but don't quote me on that.

Big retailers like Tesco, Debenhams, etc won't charge you for using any of those cards, but you'll find that it most cases it will be a simply case of if a retailer takes American Express or not rather than you getting charged extra

Nice one, cheers.

I suspected it'd be that way, I just suspect that this dealership might make an issue of it.

w211

Depends on what you're going to use the points for, would it be worthwhile to pay the extra surcharge if the points are going to be worth less than this?

However, I know that there's an offer if you've got a Platinum Card and spend over £2,000 in November, you'll get 4,000 bonus points (total of 6,000), so could be worthwhile.

N.I.M

w211 wrote: »

Depends on what you're going to use the points for, would it be worthwhile to pay the extra surcharge if the points are going to be worth less than this?

However, I know that there's an offer if you've got a Platinum Card and spend over £2,000 in November, you'll get 4,000 bonus points (total of 6,000), so could be worthwhile.

Thats exactly the offer I'm looking to take advantage of.

[quote=[Deleted User];56976433]I used AMEX when I bought my Fiesta and was charged a flat £6 extra[/QUOTE]

That sounds reasonable enough, I'm happy to pay £6 for that many extra points :rotfl:

TY for the help all.

sfax

Not sure how much the car costs but I doubt the dealer will accept more than a small deposit on a credit card. I have asked BMW before and I think they have a limit of about £1000 on a credit card without a charge and the balance (if also paid on a credit card) would incur a % charge, perhaps as much as 3%, that would likely wipe out any reward point gains.

reclusive46

sfax wrote: »

Not sure how much the car costs but I doubt the dealer will accept more than a small deposit on a credit card. I have asked BMW before and I think they have a limit of about £1000 on a credit card without a charge and the balance (if also paid on a credit card) would incur a % charge, perhaps as much as 3%, that would likely wipe out any reward point gains.

Dont BMW have an American Express card? Surely they must take it lol.

BugsyBrowne

I'm fortunate to not need any AMEX air miles cards as I only pay 10% for flights anywhere around the world which is a bonus.

Never really been interested in Amex only based as acceptance in shops etc.

sfax

BugsyBrowne wrote: »

I'm fortunate to not need any AMEX air miles cards as I only pay 10% for flights anywhere around the world which is a bonus.

Never really been interested in Amex only based as acceptance in shops etc.

You need to have a backup card because of the acceptance issue but aside from air miles there are some good cashback rates as well as other rewards like hotels. I've always used a Halifax cashback card and average about £250/year in cashback but I'm trying an Amex Preferred Gold for a year to see if it's worth switching